If you’re considering a Debt Relief Order (DRO) there are many things to consider. Before starting you should check how a DRO will impact your job. Most jobs will not be impacted but it’s better to check before you start.
Will I lose my job on a DRO?
In an overwhelming amount of cases, they’ll be no problem for most jobs on a Debt Relief Order. However, there are certain sectors and jobs where you might want to check first. They include:
- Jobs in finance
- Jobs where you handle money
- If you are a director of a company
- Certain public sector jobs such as the police or the army
Membership of a professional body
Certain jobs where you are a member of a professional body may also be impacted. You should check whether declaring yourself insolvent will impact your membership, and therefore you ability to work.
What to do if you’re unsure
Before starting a DRO you should check your employment contract. If you find any mention of your employment being terminated due to your insolvent status, then a DRO isn’t for you. If you don’t find any mention then a DRO should be fine. If you have any concerns you should speak with your employer.
Receiving a pay rise on a DRO
There is specific criteria that qualifies you for a DRO. With changes to your circumstances, such as a pay rise, it’s easy to fall out of this criteria. If you receive a pay rise you should contact the provider through which the DRO was organised. Even though you may no longer qualify for a DRO, there may be another debt solution that can help you get debt free.
What if you’re unemployed on a DRO?
Being unemployed on a DRO doesn’t matter. In fact, being unemployed could be one of the reasons why you fall into the qualifying criteria for a DRO. Your main concern should be whether your unemployed status is set to change. If you’re seeking and are likely to find work soon, starting a DRO might not be for you. Your new income may take you out of the qualifying criteria for a DRO.